The Latest Breaking News from MORE

MAI-listed More Return (MORE) yesterday reported a huge drop in net profit for last year and the appointment of an acting chief executive following the resignation of Ummarit Klomchitcharoen, who has entered the investigation process into the company's alleged share price manipulation.

The Civil Court on Thursday ordered the temporary seizure of 4.47 billion baht worth of assets linked to parties accused of manipulating the share price of More Return Plc (MORE).

Ummarit Klomchitcharoen, president and chief executive of More Return (MORE), on Monday informed the Stock Exchange of Thailand (SET) of his resignation after being accused of manipulating the company's share price, along with 17 others, in November last year.

Shares of More Return Plc (MORE) fell after the Anti-Money Laundering Office (Amlo) decided to confiscate 4.5 billion baht worth of assets from people involved in the company’s alleged fraudulent transactions in November last year.

The Anti-Money Laundering Office (Amlo) is preparing to seize assets worth nearly 4.5 billion baht from More Return Plc (MORE) in a follow-up to regulatory and criminal investigations into irregular trading in its shares last year.

Among the cases that have shaken public confidence in investments in the Stock Exchange of Thailand (SET) in recent years, More Return Plc (MORE)'s suspicious share trading would certainly top the list.

The Association of Securities Companies (Asco) and its members have proposed the Securities and Exchange Commission (SEC) adjust the regulations regarding stock manipulation in the aftermath of the More Return Plc (MORE) scandal.

The Securities and Exchange Commission has ordered embattled More Return Plc (MORE) to clarify inconsistencies in information provided by its board on various issues, including the cost of an international concert it is organising.

The Securities and Exchange Commission has ordered More Return Plc (MORE) to clarify inconsistencies in information provided by its board on issues including the rising cost of a concert it is organising.

Regulatory loopholes and the lack of a timely warning system pose major risks for stock market regulators and investors when lesser-known stocks come into the spotlight, shaking public confidence in the Thai bourse.

A recent scandal concerning unusual trading in the stock market is a wake-up call for authorities and brokers to come up with measures to plug loopholes in the capital market.